Texas Based Regional Flooring Company was acquired by Award Winning – Multi Location Flooring Company
Existing 50 year old Award Winning flooring servicing Houston and surrounding areas. Better Business Bureau rating of A+ for over 31 years. Super Service distinction given by Angie’s List. Strong revenue growth for last 3 years and a great positive cash-flow trend. Solid, Reputable, Experienced, and Profitable!!
Award Winning - Multi Location Flooring Company
Texas Based Regional Flooring Company
Sale & Merger
Buyer was a competing flooring company with an existing location.
Seller consisted of 4 owners wanting to retire and semi-retire.
Buyer wanted to merge the two businesses in to one location.
Buyer wanted First Right of Refusal on the property.
Cash Purchase with short-term lease until Buyer could consolidate locations and employees.
It was key to hold face to face meetings between key stakeholders on the Seller side with the Buyer at the location the Buyer consolidated to. Seller’s location was only used for a few months before it was moved to the existing Buyer location. All employees of the Seller were consolidated in to the Buyer location causing existing employees to commute a further distance.
It was also key to have Buyer hold 1:1 meetings with each of the Seller’s employees to build trust and to help with retention of those employees.